LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) has announced an extension of the exclusivity and due diligence period with Trafigura Canada Ltd. through Aug. 31, 2026, as the parties continue to advance proposed definitive agreements for a non-dilutive prepayment facility of up to C$30 million and a related gold doré offtake agreement. The funding is intended to support development of the Swanson Gold Deposit and the restart of the Beacon Gold Mill in Québec. The extension allows for additional technical due diligence, including a planned site visit to the mill and deposit, along with completion of definitive documentation and required approvals.
In a separate update, LaFleur reported that refurbishment of its wholly owned Beacon Gold Mill reached approximately 84% completion as of July 1, 2026, and remains on budget. Major work on the crushing, grinding, filtration, ore-storage and thickening circuits has been substantially completed. Remaining work focuses on the leaching circuit, refinery commissioning and supporting infrastructure. Subject to delivery of remaining equipment and other conditions, the company expects to complete mechanical work and begin staged commissioning using existing stockpiles during the fourth quarter of 2026.
The Swanson Gold Project, located near Val-d’Or, Québec, covers approximately 19,214 hectares along a major structural break hosting the Swanson, Bartec and Jolin gold deposits. The project is easily accessible by road, providing direct access to several nearby gold mills, including the Beacon Mill. A Preliminary Economic Assessment (PEA) for the Swanson Gold Project and the planned mill restart was released in March 2026. The Beacon Mill has a capacity of over 750 tonnes per day and is being considered for processing mineralized material from Swanson as well as for custom milling operations for other nearby projects.
The extension with Trafigura underscores the strategic importance of securing non-dilutive financing at a time when gold prices remain strong and development costs are under close scrutiny. The prepayment facility would provide LaFleur with up to C$30 million without diluting existing shareholders, a critical advantage for advancing the project. The offtake agreement would secure a buyer for the gold doré produced, reducing price risk and providing revenue certainty.
Investors should note that the completion of the mill refurbishment and the progression of the Trafigura agreement are key milestones that could significantly de-risk the project. The staged commissioning, expected in Q4 2026, would mark the transition from construction to production, potentially generating cash flow and validating the company's development strategy. For more details, the full press release is available at https://ibn.fm/7rTzA. The latest updates on LaFleur Minerals can be found at http://ibn.fm/LFLRF.
